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☆ North Korea Fires Ballistic Missile Toward Japan
  + stars: | 2023-04-13 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/north-korea-fires-ballistic-missile-toward-japan-2c728f14
☆ North Korea Marks Weapons Advance With Launch of Solid-Fueled ICBM
  + stars: | 2023-04-13 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: +1 min
On Friday, North Korea said the ICBM, which it called the Hwasongpho-18, would “radically promote the effectiveness of its nuclear counterattack posture,” according to state media. A South Korean military official said on Thursday that Seoul suspected North Korea had fired a new type of ballistic missile that uses solid fuel. Pyongyang has been developing solid-fueled ICBMs—which require less preparation time to launch and are easier to conceal—but hadn’t previously fired one. “North Korea has continuously stressed the development of new war deterrence capabilities. The country’s test of an apparent solid-fuel ICBM is likely meant to show that North Korea will carry through with its warnings,” said Yang Moo-jin, president of the University of North Korean Studies in Seoul.
☆ South Korea Fines Google $32 Million for Squeezing Out Local Rival
  + stars: | 2023-04-11 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/south-korea-fines-google-32-million-for-squeezing-out-local-rival-37dc76c9
☆ South Korea to Probe Circumstances Around Reported Leak of Classified U.S. Documents
  + stars: | 2023-04-10 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
South Korean President Yoon Suk Yeol is scheduled to travel to Washington for a state visit this month. SEOUL—A South Korean official said the government was investigating the circumstances around a leak of highly classified U.S. documents that appeared to show intelligence based on intercepted communications of U.S. allies, including discussions among Seoul officials about concerns over selling ammunition to the U.S. that could end up in Ukraine. South Korea’s first priority was to establish the facts, an official from the country’s presidential office said in a Monday briefing, noting that the reports of the intelligence leak hadn’t been confirmed. Once that is done, South Korea “plans to request, if necessary, the U.S. to take reasonable measures,” the official said.
☆ Samsung Forecasts Worst Profit in Over a Decade as Tech Slump Hits Memory Chips
  + stars: | 2023-04-06 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
Samsung’s earnings forecast for the first quarter were far below market projections. SEOUL— Samsung Electronics Co. said it expects a steep fall in its first-quarter profit, dropping to levels last seen during the financial crisis as an extended slump in the tech sector hits its memory-chip business hard. Samsung said Friday that its operating profit for the January-March quarter was expected to have dropped by around 95.8% from the prior year to 600 billion won, or roughly $455 million, in what would be the smallest quarterly operating profit since 2009. Revenue for the three-month period is expected to drop by 19% from a year earlier to 63 trillion won.
☆ U.S., South Korea Vie Over Extradition of Crypto Fugitive Do Kwon
  + stars: | 2023-03-30 | by ( James Fanelli | Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
Police officers escorting Do Kwon, the creator of the failed TerraUSD stablecoin, in Montenegro’s capital Podgorica on Friday. The U.S. and South Korea are both seeking to extradite captured crypto entrepreneur Do Kwon from Montenegro, authorities in the tiny European nation said this week, setting up competing bids to prosecute him over criminal charges tied to the collapse of his TerraUSD stablecoin. Legal experts said South Korea may hold the upper hand because it is party to an extradition treaty with Montenegro, but diplomacy and previous instances of the Balkan state turning over fugitives to the U.S. could also factor into where Mr. Kwon ends up.
☆ For Chip Makers, a Choice Between the U.S. and China Looms
  + stars: | 2023-03-28 | by ( Yuka Hayashi | Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
WASHINGTON—Semiconductor companies seeking federal grants under the Chips Act could face a tough decision: take Washington’s help to expand in the U.S., or preserve their ability to expand in China. The Biden administration last week proposed new rules detailing restrictions chip companies would face on operations in China and other countries of concern if the companies accept taxpayer funding.
☆ South Korea’s LG Energy to Build $5.6 Billion Battery Plant in Arizona
  + stars: | 2023-03-24 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
LG Energy is the world’s second-largest producer of EV batteries. SEOUL—South Korea’s LG Energy Solution Ltd. said it would invest about $5.6 billion in a battery-manufacturing complex in Arizona, the latest in a string of new plants by foreign companies as the U.S. transitions toward cleaner fuels. LG Energy said Friday that the new battery complex in Queen Creek, Ariz., will mainly serve electric-vehicle makers in North America.
☆ South Korea Plans Mega Chip-Making Base to Stay Ahead
  + stars: | 2023-03-15 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
A new industrial complex for advanced semiconductors is set to be formed in South Korea’s Gyeonggi province. SEOUL—South Korea announced plans to create the world’s largest semiconductor base in the country over the coming two decades, looking to protect its position as a leader in the industry as the U.S. and other countries move to bolster their own chip production. A new industrial complex for advanced semiconductors will be formed by 2042 in the city of Yongin in Gyeonggi province near Seoul, based on private-sector investments of around 300 trillion won, equivalent to about $228 billion, South Korea’s Ministry of Trade, Industry and Energy said Wednesday.
☆ North Korea Fires Two Short-Range Ballistic Missiles
  + stars: | 2023-03-14 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
People at a railway station in Seoul walk past a television screen showing file footage of a North Korean missile test. SEOUL—North Korea launched two short-range ballistic missiles, following its playbook of using weapons tests to keep pressure on the U.S. and South Korea as the two countries conduct joint military drills. The missiles were fired around 7:40 a.m. on Tuesday from North Korea’s western coastal province of South Hwanghae and traveled about 385 miles in 10 minutes before landing in waters near the east coast, South Korea’s Defense Ministry said.
☆ North Korea Launches Two Cruise Missiles From Experimental Submarine
  + stars: | 2023-03-13 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL—North Korea launched two underwater cruise missiles from a submarine, the regime said Monday, ahead of the start of large-scale joint U.S. and South Korea military drills this week. The missiles, which were fired early Sunday morning into the waters off the east coast of the Korean Peninsula, demonstrated the reliability of a system that constitutes one of the country’s nuclear deterrents, North Korean state media said Monday. The missiles were fired from the 8.24 Yongung submarine and traveled for about 932 miles before hitting the target, state media said.
☆ Google Offers Rare Glimpse of Restricted Areas Near Korean Peninsula’s DMZ
  + stars: | 2023-03-08 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
The DMZ, which is about 2.5 miles wide and runs for some 160 miles, has stood as a testament to the longstanding tensions on the Korean Peninsula, which have had ups and downs in recent decades. The Dutayeon Ecological Trail still shows signs of the Korean War. Photo: DMZ Botanic Garden/Google Arts & Culture
☆ South Korea Says U.S. Chips Act Subsidies Have Too Many Requirements
  + stars: | 2023-03-07 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL—The U.S. Chips Act is dangling billions of dollars in subsidies in front of the world’s biggest semiconductor manufacturers, but South Korea says there are too many strings attached. The conditions for receiving the subsidies unveiled last week are putting two of South Korea’s biggest chip makers— Samsung Electronics Co. and SK Hynix Inc.—in a difficult position as they decide whether to apply for the federal funding, government officials and industry analysts said.
☆ Apple’s iPhones Winning Over Gen Z—and the World’s Premium Market
  + stars: | 2023-02-27 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
Apple’s clout has been growing in South Korea, where it now has four stores and where Samsung’s Android smartphones have held sway. SEOUL—Consumers around the world are increasingly choosing Apple Inc.’s iPhones over high-end Android smartphones, with younger users seen as pushing the company toward the level of dominance in the market globally that it has enjoyed in the U.S.From Europe to Asia, Apple’s market lead in the premium bracket is growing, and polls show that people in their teens and early 20s, known as Gen Z, increasingly see the iPhone as a must-have. Converts say they are drawn by its design, cameras and AirDrop features for sharing photos.
☆ Google Offers Rare Look at Restricted Areas Near Korean Peninsula’s DMZ
  + stars: | 2023-02-22 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL—For nearly 70 years, the demilitarized zone that divides the Korean Peninsula has stayed off limits to nearly all human habitation. Now anyone can take a virtual walk through restricted areas that border the DMZ, catching rare glimpses of former battle sites, as well as natural landscapes, fauna and endangered wildlife that has flourished in the decades since the Korean War hostilities ended with an armistice in July 1953.
☆ Leaking Chip Secrets to China Results in Jail Terms for Ex-Samsung Employees
  + stars: | 2023-02-21 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL—A court in South Korea found seven ex-employees of a Samsung Electronics Co. subsidiary guilty of illegally obtaining and transferring semiconductor-related technology to Chinese companies, a case that underscores the intensifying efforts countries are making to protect their chip technologies. Details of the accusations, which were released on Monday, emerged as the U.S. has pushed sweeping restrictions on exports of advanced chips and chip-making equipment to China to prevent American technology from advancing Beijing’s military power.
☆ North Korea Launches ICBM, Raising Tensions in Region
  + stars: | 2023-02-18 | by ( Jiyoung Sohn | Dasl Yoon | ) www.wsj.com   time to read: 1 min
SEOUL—North Korea fired an intercontinental ballistic missile, escalating tensions in the region as the U.S. and South Korea prepare for joint military exercises. The missile was fired eastward Saturday shortly before 5:30 p.m. local time from the Sunan area in the outskirts of North Korea’s capital city of Pyongyang. It was in the air for a little more than an hour, reaching an altitude of more than 3,500 miles. It traveled a distance of about 560 miles before landing in the sea about 155 miles west of Japan’s northernmost island of Hokkaido, in the country’s Exclusive Economic Zone, according to South Korean and Japanese defense officials.
☆ Samsung Expects Sluggish Demand to Drag On as Profit Slides
  + stars: | 2023-01-31 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL— Samsung Electronics Co. expects demand for semiconductors and smartphones to remain sluggish as macroeconomic challenges and fears of a recession continue to hurt sales, but it said a recovery could be possible in the second half. Economic uncertainties are weakening momentum for any short-term rebound in demand for memory chips, Samsung’s main cash cow, said Kim Jae-june, executive vice president for global sales and marketing at the company’s memory business, in an earnings call on Tuesday.
☆ Samsung Expects Sluggish Demand to Continue After Posting 69% Drop in Profit
  + stars: | 2023-01-31 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL— Samsung Electronics Co. expects demand for semiconductors and smartphones to remain sluggish as macroeconomic challenges and fears of a recession continue to hurt sales, but it said a recovery could be possible in the second half. Economic uncertainties are weakening momentum for any short-term rebound in demand for memory chips, Samsung’s main cash cow, said Kim Jae-june, executive vice president for global sales and marketing at the company’s memory business, in an earnings call on Tuesday.
☆ Samsung Electronics Operating Profit Falls 69% on Lower Tech Demand
  + stars: | 2023-01-31 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL— Samsung Electronics Co.’s fourth-quarter operating profits slumped as the company’s mainstay memory-chip and smartphone businesses grappled with a sharp drop-off in demand and high inventories. On Tuesday, the South Korean tech giant reported a 69% drop in operating profit in the fourth quarter compared with the prior year due to a decline in demand for tech products including PCs and smartphones and the semiconductors that go inside them.
☆ Memory-Chip Makers Face a Prolonged Price Slump
  + stars: | 2023-01-30 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL—Memory-chip prices, which dropped steeply over the past year, are expected to keep falling in the first half of 2023, putting more pressure on an industry that has already cut investments and jobs. Average prices for the two main types of memory chips used in everyday electronics—from smartphones to personal computers and TV sets—are projected to experience double-digit percentage declines this quarter, industry analysts say. That comes after prices dropped by more than 20% in the last three months of 2022 from the previous quarter, according to analyst data.
☆ Memory Chip Makers Face a Prolonged Price Slump
  + stars: | 2023-01-30 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL—Memory-chip prices, which dropped steeply over the past year, are expected to keep falling in the first half of 2023, putting more pressure on an industry that has already cut investments and jobs. Average prices for the two main types of memory chips used in everyday electronics—from smartphones to personal computers to TV sets—are projected to experience double-digit percentage declines this quarter, industry analysts say. That comes after prices dropped by more than 20% in the last three months of 2022 from the previous quarter, according to analyst data.
☆ Seoul Crowd-Crush Probe Faults Officials, Recommends Prosecution in Itaewon Deaths
  + stars: | 2023-01-13 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL—South Korean investigators blamed poor safety planning and bungled responses by police and public authorities for a fatal crowd crush that killed more than 150 people during Halloween festivities in Seoul last year. In its final report Friday, a special police team tasked with investigating the accident found fault with officials from local police, the district government and emergency responders, and referred nearly two dozen people for prosecution for professional negligence.
☆ Samsung Expects 69% Drop in Profit on Slumping Tech Demand
  + stars: | 2023-01-06 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL— Samsung Electronics Co. said it expects its fourth-quarter profit to plunge as the firm’s mainstay memory-chip and smartphone businesses face a sharp pullback in demand, showing the extent of the global tech downturn after pandemic highs. The South Korean tech giant on Friday forecast its operating profit in the quarter ending Dec. 31 to drop by 69% from the prior year to 4.3 trillion won, the rough equivalent of $3.4 billion.
☆ Samsung Expects Big Drop in Profits on Slumping Tech Demand
  + stars: | 2023-01-06 | by ( Jiyoung Sohn | ) www.wsj.com   time to read: 1 min
SEOUL— Samsung Electronics Co. said it expects its fourth-quarter profits to plunge as the firm’s mainstay memory-chip and smartphone businesses face a sharp pullback in demand, showing the extent of the global tech downturn after pandemic highs. The South Korean tech giant on Friday forecast its operating profit in the quarter ending Dec. 31 to drop by 69% from the prior year to 4.3 trillion won, the rough equivalent of $3.4 billion.
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